Respected Seniors,
I am working with a manufacturing firm and at the time of joining there was one component in my salary structure as retention bonus of Rs. 3000/- per month paid after 3 years. Now i have been moved to another organisation with same MD, who runs both the ventures. My question is am i eligible for the amount of retention bonus which have been accumulated as i worked for 11 months and it was the decision of management to transfer me along with some more employees to this organisation
Thanks and Regards
From India, Gurgaon
I am working with a manufacturing firm and at the time of joining there was one component in my salary structure as retention bonus of Rs. 3000/- per month paid after 3 years. Now i have been moved to another organisation with same MD, who runs both the ventures. My question is am i eligible for the amount of retention bonus which have been accumulated as i worked for 11 months and it was the decision of management to transfer me along with some more employees to this organisation
Thanks and Regards
From India, Gurgaon
Dear Friend,
This question you need to ask your management before accepting the transfer / relocating to new work place, however I opine that both the organization's belongs to one management hence your service is going to be a continued service.
Regards - kamesh
From India, Hyderabad
186This question you need to ask your management before accepting the transfer / relocating to new work place, however I opine that both the organization's belongs to one management hence your service is going to be a continued service.
Regards - kamesh
From India, Hyderabad
If you are only transferred to another unit without disturbing the existing terms of employment and conditions of servcie, in my view, you should be eligible for teh retention bonus. B.Saikumar
From India, Mumbai
From India, Mumbai
Dear,
I agree with the views of Sri B. Saikumar. Only I would like to add is - If retention bonus is not payable to the employees in the unit(though under the admn. control of same MD) at the most the management may be liable to pay you retention bonus on prorata i.e. for only 11 months - the period for which you were posted in the unit where it was payable. But for this, you may be required to make an application and get a non-payment certificate from the earlier unit Finance Department, to get it paid at the new place of posting, when it has actually been paid to the employees of unit in which it is payable.
Good luck
AK Jain
HR Personnel,
NCL, CIL.
From India, Jabalpur
I agree with the views of Sri B. Saikumar. Only I would like to add is - If retention bonus is not payable to the employees in the unit(though under the admn. control of same MD) at the most the management may be liable to pay you retention bonus on prorata i.e. for only 11 months - the period for which you were posted in the unit where it was payable. But for this, you may be required to make an application and get a non-payment certificate from the earlier unit Finance Department, to get it paid at the new place of posting, when it has actually been paid to the employees of unit in which it is payable.
Good luck
AK Jain
HR Personnel,
NCL, CIL.
From India, Jabalpur
Please clarify what is meant by "Moved". Are your services given on lien or are you re-appointed/ transferred etc. You must have been given some document. Are there any salary terms mentioned in that document?After checking the terms please speak to your HR/MD.
Strictly speaking ''another organisation' means a different entity. Same MD does not mean same employer, implying you are working for a new company & hence previous terms will not apply automatically.
Cheers,
Ganesh
From India, Bangalore
Strictly speaking ''another organisation' means a different entity. Same MD does not mean same employer, implying you are working for a new company & hence previous terms will not apply automatically.
Cheers,
Ganesh
From India, Bangalore
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Retention management.doc
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